AT&T announces $5 Netflix competitor to help stop cord cutting

AT&T (T) on Monday unveiled a new video-on-demand service for its U-Verse TV subscribers at its annual Developer Summit in Las Vegas, Nevada. The company is looking to keep its customers away from streaming services from Netflix (NFLX), Amazon (AMZN) and Hulu, and will offer the U-Verse Screen Pack for $5 a month. The service is only available to U-Verse subscribers and provides access to a library of 1,500 movies that can be viewed on any TV, computer or tablet.

“We know customers have more options than ever before to watch their favorite movies, and U-verse Screen Pack gives them a convenient and valuable way to access a large variety of movie titles, whether it’s on the device in their hand or on their big screen TV,” said Jeff Weber, president of content and advertising sales with AT&T Home Solutions. “Our customers have told us they want subscription on demand services and we’re delivering. Screen Pack, along with our On Demand library, gives customers a flexible and more compelling movie experience, where and when they want it.”